Dispensers for sheet materials, such as for dispensing towels, tissue or other paper products, are commonly used in hospitals, restrooms and other facilities. When the supply of sheet material in such dispensers is running low or has been fully dispensed, it generally is not apparent until the dispenser is out of and no longer dispenses sheet material. Paper, measuring or metering systems have been used, but generally do not provide precise and/or continuous monitoring of the remaining supply of sheet material. For example, available sheet material metering systems or gauges can include a mechanical lever arm that engages the supply of sheet material and is moved as the sheet material is dispensed and reduces in diameter. After the lever arm has moved a specific distance/amount, i.e., due to a reduction in the diameter of the sheet material, the lever arm will activate a switch that in turn can activate a light or other notification mechanism to indicate a low paper condition. Accordingly, typical paper metering systems often simply provide an indication as to whether the sheet material supply is out or is about to run out, and generally do not provide substantially precise, real-time monitoring of the amount of remaining sheet material. Moreover, after the notification mechanism is activated and the sheet material is continued to be dispensed, the specific amount of sheet material remaining cannot be discerned, e.g., whether the dispenser is completely out of paper or if it still has some amount of sheet material remaining; which may result in replacement of the sheet material before complete dispensing thereof, leading to waste of the sheet material and increasing costs, or the dispenser being rendered inoperable until an empty supply roll is discovered and replaced. The present disclosure addresses these issues and other related and unrelated issues in the art.